Akamai CFO to step down; Q3 loss matches views

DavidB. Wilkerson

Akamai Technologies said after the market closed Wednesday that Chief Financial Officer Timothy Weller will resign at the end of the year, and that on Wednesday morning it eliminated 29 percent of its global workforce. The restructuring shifts Akamai's focus to "its most productive enterprise opportunities." Akamai is a provider of software and services related to the delivery of Web content. Akamai said its third-quarter loss was $47.5 million, or 42 cents a share, compared to a deficit of $55.4 million, or 53 cents a share. Its normalized net loss was $31.5million, or 28 cents a share, matching the average estimate of analysts polled by Thomson First Call. Akamai's normalized loss was $38.2 million, or 37 cents a share, in the same period last year. Shares
AKAM, -1.00%
fell 5 cents to 94 cents in after-hours trading on the Island ECN.

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